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Judge to Rule by July 22 on Paramount-Warner Bros. Merger Halt Request

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Judge Araceli Martínez-Olguín has concluded an initial hearing regarding the merger between Paramount and Warner Bros. Discovery (WBD) but has not made an immediate ruling on the request for a temporary restraining order (TRO) from a coalition of state attorneys general. A decision is expected by July 22, which is critical as Paramount aims to finalize the merger soon after. The approval process is already in place globally, but the TRO could delay the merger by up to 28 days, impacting plans to complete the deal before September 30. Paramount's lead attorney indicated the company is willing to pause the merger for 28 days to expedite the preliminary injunction process, as the merger's financial implications could cost them significantly if delayed.

Key Details: • Judge's ruling expected by July 22. • Merger completion aimed before September 30. • Potential for a 28-day delay if TRO is granted. • 'Ticking fee' of 25 cents per share could increase costs significantly.

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ParamountWarner Bros. DiscoveryCNNAraceli Martínez-OlguínDaniel Kessler

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